New York – June 22, 2009 – LawFuel.com – Debevoise & Plimpton LLP advised Tower Group, Inc. (“Tower”) in its acquisition of Specialty Underwriters’ Alliance, Inc. (“SUA”). Tower and SUA have entered into a definitive agreement for the acquisition of SUA by Tower in a transaction valued at approximately $106 million. Under the terms of that agreement, SUA shareholders would receive Tower common stock equal to $6.72 per SUA share based on Friday’s closing stock price for Tower of $24.00.
Tower Group, Inc. offers property and casualty insurance products and services through its operating subsidiaries. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.
The Debevoise team was led by partner Michael W. Blair and included partners Lawrence K. Cagney and Gary M. Friedman and associates Alexander R. Cochran, Neil Adam Dubnoff, Lisa B. Gorrin, Allison A. Lee and Jeffrey E. Ross.